Update #Fusaka in #Ethereum✅ is scheduled for activation on the mainnet on December 3rd and aims to improve the scalability and efficiency of the blockchain. At the same time, MetaMask confirmed that it is preparing to release its token, which, according to the CEO, may appear sooner than expected and impact the DeFi sector.
Fusaka is the final checkpoint in Ethereum's growth strategy.
The creators aim to expand the blockchain worth 410 billion dollars to handle 100,000 transactions per second, which represents a significant increase from its current maximum of 30 transactions per second. This comes after the Pectra update released by developers in May.
What is the goal of the Fusaka update?
Enable $ETH to handle high transaction volumes from L2, blockchains with an on-chain economy of 47 billion dollars built on Ethereum.
These chains borrow the architecture of the core security layer while providing faster and more cost-effective transaction processing. "The greatest impact of Fusaka is increasing data accessibility through PeerDAS, which will make rollups cheaper and more scalable," said Nick Johnson, founder and chief developer of Ethereum Naming Service (ENS), in an interview with DL News.
Hardfork
What is a hardfork? The main cryptocurrency network operates according to established rules. To improve network efficiency or fix bugs, adjustments are made from time to time.
A hardfork refers to modifications that are not compatible with previous versions of the software that supports the functioning of the cryptocurrency network. To continue mining cryptocurrency after a hardfork, miners are required to update their software. In certain situations, a hardfork can lead to the creation of an entirely new cryptocurrency.
For example, this is how Bitcoin Cash and EthereumPoW were created.
In conclusion, I would like to ask how the new update #Fusaka will affect the coin's value in the near future?
P.S. My personal opinion is that Ethereum still has to go to the range of 2500-2700.